کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7372199 1479711 2014 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Flexible prices, labor market frictions and the response of employment to technology shocks
ترجمه فارسی عنوان
قیمت های انعطاف پذیر، اصطکاک بازار کار و پاسخ اشتغال به شوک های تکنولوژی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
Recent empirical evidence establishes that a positive technology shock leads to a decline in labor inputs. Standard RBC models fails to replicate this stylized fact, while recent papers show that augmenting the model with implementation lags, or habit formation, or shock persistence in growth rates among others accounts for this fact. In this paper, we show that a standard flexible price model with labor market frictions that allows hiring costs to depend on technology shocks may also lead to the same negative impact on labor inputs. Labor market frictions are therefore able to account for the fall in labor inputs. However, the elasticity of hiring costs to technology shocks is large, suggesting that additional extensions to the model are needed.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Labour Economics - Volume 26, January 2014, Pages 94-102
نویسندگان
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